V1 is a 1 kHz square wave generator. This acts as the input signal that will switch the circuit states.
The square wave provides alternating high and low signals to the circuit, which will control the MOSFETs through the switching mechanism.
SW1 and SW2 are configured in such a way that only one switch is closed at a time.
When SW1 is closed, SW2 is open, and vice versa. This allows the square wave signal to either pass through SW1 or SW2 but not both at the same time.
The switches control which MOSFET (M1 or M2) receives the signal.